The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-01-25
The WATER QUESTION
DISCUSSED BY THE TAKING DIS
TRICT COUNCIL
And the Committee Of Ten-A Bill
In Part Agreed tO-The
Annex Bill.

Annex Bill.
The Legislative Council met yestsr.
day aitTnoon to discuss the water
works bill with the Water Committse
Of Ten. The following gentlemen
were present: President III alden and
Massrs. Lee, Patterson, Montgomery,
Randle, Graham, Kney and Wallace,
members OF the Council; Mai. Hamp.
ton, chairman OF the Wpter Commit.
tee, and Messrs. Smith, Hinds, Caviar,
Lowenstein, Suggs, Collier aud Storms,
The water bill was read and dis
cussed, section by section.
Mr.. Graham asked il s., 500, 600 was
not too small. Would it nc bs better
to make the mortgage $1,000 900 at
once, as 1t might be more ditiicnlt TO
float second loan.
Gen. Patterson thought that il
would be more difficult to fl )at s., 0C0,-
0'0 at once. II it were found that
II 100000 was inadequate bonds could
be issued on second mortgage possi-
by more advantageously than on the
first one.
Msj. Hampton said that their COM
mitt 70 thought $l,5O0,0O0 would be
more than would be actually re-
quiyed.
Mr. Hidden said that some Of the
citizsns were opposed to the city's
guaranteeing the interest, as she
would then be liable for the principal.
Mr.. Montgomery said that the d'y
wanted and should have perfect sys-
TEN OF water works, even though she
became responsible for the prime pal.
Section 6, providing for the paying
Of the interest on the bonds during the
period of the construction Of the
works, was then thoroughly discussed.
Mr., Patterson cad: ave must not
increase our indebtedness to the
amount Of 100000"
Mr.. Montgomery suppose you
can't sell 100000 worth OF water
works bonds to commence the work
The city intends to own the water
works and whers can be the objection
to the city's going into 100000 in.
debtednes3P
Mr.. Patterson said that it was un-
derstood by the people who took our
bonds that we should not increase the
indebtedness Of the city.
Judgs Walker said that we should
have t. levy 80 cents tax.
Mr., Randle-I think you had better
increass your water bonds.
Maj. Hampton said that il the
creditors received their compromise
on the condition that no additional
bonds should be issued, it should GER
tsinly be held sacred. He thought
tina! il the city wers to keep it's i'm
piled promise lis credit would stand
80 high that the 100000 worth OF
water bonds could be hoated at par.
Mr. Patterson said why not say that
100000 OF the $l,500,000 may be
sold, 80 much of it to be applied to
the payment OF the interest as the
work progresses.
Judge Walker said that the act re-
quires the holder to look to the water
works for the principal. But suppose
that 800, 900 worth Of bonds, out OF
81, 800, QUO, were sold for interest, then
the works would be worth 81 400, 900,
but they would be ia reality security
for 81 100000.
After a general discu sion it was
moved by Mr. Patterson and seconded
by Mr.. Garvin, that section 6 be strick-
Gu out. wasput TO a vote and carried.
The following was inserted in its place:
SEC. 6, Be- further enacted, That in
order to pay the interest ON said water
bonds during the construction OF said
works tax OF 30 cents on the 800 OF
taxable property in said district, real,
personal and mixed, including stocks,
merchants capital and every pecies OF
taxable property is hereby levied for
the years 1887 and 1883, to b9 col
lected in the same manner aud
at the same time that other taxes
levied for said district are collected ell
liens and remedies provided for the
collection OF the tax hereby levied. II
levied is not required to pay interest
as aforesaid on said water boads, then
the surplus thereof may be used by
the Fire and Police Commissioners
for extending, enlarging or improving
ths sewer system OF eaid ID strict or for
paving he streets OF said District.
1t was moved by President Hadien
and seconded by Mr.. Montgomery
that the red rafting OF the last section
be referred to a committee-Messts. |
Hidden, Walker and Hampton, whose
action would be final.
Il was then discussed IL 1t would be |
advisable to insert clause in the bill |
providing for three or Eve Water
Commiss oners, but il was fi1ally |
passed over. The bill was. then passed |
as whole by the Council, which then
proceeded to take up other business in
regular order.
The annex bill was then read and |
referred to committee of three, who |
are to report at the next meeting OF |
the Council.
The following ordinance passed on !
its first reading:
Be it ordered by this Council, that
the burning Of paper trash and gar bage |
in the streets shall he misdemeanor.
Persons making fires of this kind |
shall be fned not less than 81 nor more
than $50 Tor each and every such
ofense.
The C3uncil then adjourned sub |
ieCt to call.